THE Baguio City Government decided to lower further the proposed increase in market values for lands in the city as a compromise with the taxpayers.
This will be the second time the proposed rates were decreased in deference to the request of the landowners and the business community in the city as aired in the series of public hearings conducted on the matter.
City assessor Almaya Addawe will present the adjusted rates in another public consultation set on August 17 at the City Council session hall.
Addawe said the new rates were lowered by an average of 26 percent from the rates in the original proposal.
The market values for some regular sized lots had been cut down by as much as 33 percent.
Addawe said an adjustment factor of minus 50 percent was provided for wide areas measuring 10 hectares and above.
“This means the value of the property 10 hectare and above is half the value of a regular sized property,” she said.
She expressed hope the new rates will now be acceptable to the taxpayers.
“I don’t think we can go down any further than this,” she said.
Mayor Mauricio Domogan gave his approval to the further readjustment saying he wants the new rates to be acceptable to the landowners.
In the last public hearing, big business groups suggested that the city lower the proposal especially for wide areas.
Due for deliberation on second reading after publication by the City Council, the proposed revised schedule of market values for lands is targeted for approval within the year and for implementation in 2018.
The officials said the adjustment is long overdue as the city has failed to effect an increase for 21 years now in violation of section 219 of the Republic Act 7160 or the Local Government Code which mandates the city assessor to undertake a general revision of real property assessments within two years after the effectivity of the code in 1992 and every three years thereafter. (PR)